Macro Momentum Tracker: Latest data point to softer activity momentum in September

This weekly report provides a higher-frequency assessment of economic momentum across the CEEMEA region, covering the Czech Republic, Hungary, Poland, Romania, Israel, South Africa and Türkiye. The aggregate CEEMEA MMI continues to point to above-trend growth momentum in Q3, though the pace of improvement has continued to moderate this week. Both demand-side and supply-side momentum have weakened in September so far, with weakness primarily evident in recently released hard data, even as improving sentiment momentum points to the slowdown possibly being short-lived. Momentum remains stronger than three months ago across most CEEMEA economies;